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PEER COMPANIES

NEW DELHI: Nifty futures on the Singapore Exchange traded 11.80 points, or 1.13 per cent higher at 8,981 in signs that Dalal Street was headed for a a flat-to-positive opening on Wednesday. Here are a few stocks which may create some buzz in Wednesday’s trade:

Reliance Industries:RIL will use three-fourth of proceeds of its mega rights issue for repayment of some of its borrowings, according to offer document. The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.

Siemens: German conglomerate Siemens Aktiengesellschaft sold shares worth over Rs 8,500 crore in its listed Indian subsidiary Siemens, amounting to about 24 per cent stake, to another group firm Siemens Gas and Power Holding BV.

Bajaj Finance: The company, reporting net figures at Rs 948.10 crore, down 19 per cent year-on-year (YoY), said it is focussing on preserving the capital and reducing operating expenses.

Edelweiss Financial Services: Bank of Singapore and several global private equity funds such as Blackstone, KKR and Apax are in the race to acquire a minority stake in Edelweiss Global Investment Advisors (EGIA), the investment and advisory business of the Mumbai-based firm.

L&T Infotech: IT company L&T Infotech on Tuesday reported a 12.9 per cent growth in consolidated net profit to Rs 427.5 crore for the January-March 2020 quarter. This is against a net profit of Rs 378.5 crore in the same period a year ago, the company said in a statement.

Sanofi: Drug firm Sanofi India reported 8 per cent decline in its net profit to Rs 85.4 crore for the first quarter ended March 31, 2020. The company had posted a net profit of Rs 92.9 crore for the same period previous fiscal, Sanofi India said in a regulatory filing.

Suzlon Energy: Suzlon Energy got shareholders' nod for its debt restructuring plan. All 10 resolutions through postal ballot that would pave the way for debt restructuring of the company are approved with requisite majority through post ballot, according to a regulatory filing.

Nestle India: Nestle India urged the government to allow food processing industries to deploy 75 per cent workforce to ensure adequate production capacity utilisation in factories, saying without which there could be disruptions in goods supply.

Ujjivan Small Finance Bank: The SFB reported a 15 per cent rise in net profit at Rs 73.15 crore for the three months to March, after it made a COVID-19 related provision of Rs 70 crore. The bank had reported a net profit of Rs 63.78 crore during the same quarter of 2018-19, it said.

Apollo Tyres: The company reported a 7.36 per cent decline in its consolidated net profit to Rs 77.8 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 83.99 crore for the January-March period of 2018-19.

JMC Projects: The company reported a net loss of Rs 34.38 crore during the quarter ended March 31, 2020. The company had posted a net profit of Rs 48.70 crore during the same quarter in 2018-19 fiscal, it said in a BSE filing.